04 June 2020

Airlines, chemicals giants, and an oil field company – who has the Bank of England lent to?

04 June 2020

The Bank of England has lent more than £16 billion to 53 major businesses in a bid to support them through the coronavirus crisis.

The list, which raised protests from fair pay campaigners and environmental groups, included several airlines, oilfield services company Schlumberger, German chemicals giant BASF, and defence giant Chemring.

Money has also gone to support the National Trust, Greggs and Nissan, among others.

Around £2.8 billion has gone to firms with headquarters based overseas, including the Netherlands, Germany and Ireland.

And several high street names took out cash, including John Lewis, Marks & Spencer, Greggs and Fuller’s – with stores, bars and restaurants remaining closed in most cases.

Online fashion giant Asos, which has remained open throughout the lockdown, took a £100 million, several weeks after it was revealed bosses had asked shareholders for £247 million in a fundraiser.

Fashion houses Chanel and Burberry also turned to taxpayer-backed loans, £600 million and £300 million respectively.

The full list of 53 borrowers:

BASF SE – £1 billionBaker Hughes UK Funding Company PLC – £600 millionBayer AG – £600 millionChanel Limited – £600 millionCNH Industrial NV – £600 millionCompass Group PLC – £600 millioneasyJet PLC – £600 millionIntercontinental Hotels Group – £600 millionJCB Service – £600 millionNissan Motor Co Ltd – £600 millionRentokil Initial plc – £600 millionRyanair DAC – £600 millionWestfield UK & Europe Financial Plc – £600 millionABB Finance BV – £400 millionBrake Bros Limited – £400 millionJohnson Controls International plc – £370 millionToyota Financial Services (UK) plc – £365 millionAmcor UK Finance plc – £360 millionBourne Leisure Limited – £300 millionBritish Airways PLC (International Airways Group PLC) – £300 millionBurberry Limited – £300 millionFirstGroup plc – £300 millionG4S International Finance Plc – £300 millionJohn Lewis Plc – £300 millionLendlease Europe Finance Plc – £300 millionLondon & Quadrant Housing Trust – £300 millionMitsubishi Corporation Finance PLC – £300 millionNational Express Group PLC – £300 millionRolls-Royce plc – £300 millionStagecoach Group PLC – £300 millionWizz Air – £300 millionMarks and Spencer plc – £260 millionTelefonica Europe BV – £200 millionVesuvius plc – £200 millionTottenham Hotspur Stadium Limited – £175 millionPACCAR Financial PLC – £170 millionGreggs plc – £150 millionOPTIVO – £150 millionSchlumberger Plc – £150 millionASOS plc – £100 millionFuller Smith & Turner Plc – £100 millionInchcape Plc – £100 millionPolypipe Group Plc – £100 millionHonda Finance Europe PLC – £75 millionMeggitt PLC – £60 millionChemring Group plc – £50 millionSSP Financing Ltd – £50 millionAkzo Nobel NV – £30 millionThe National Trust for Places of Historic Interest or Natural Beauty – £30 millionThe Vitec Group plc – £30 millionYoung & Co’s Brewery, PLC – £30 millionCarnival plc – £25 millionAlliance Automotive Investment Limited – £20 million

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